Data per the EIA weekly report.
Crude stocks slid another -10.6M barrels, from last week, and is -3.4% below the 5 year seasonal average. It should be noted the 5 year average includes the abnormal 2020 and 2021 number. Otherwise, the current inventory is nearly +0.4% above normal.
Distillates inventory rose +1.2M barrels; and Gasoline inventories slipped about -214K barrels. Distillates (-13%,-2.6%) and Gasoline (-3.2%, -1.4%) are both below 5 year and 3 year adjusted average inventories.
The SPR increased another 600K barrels this past week. This is the 4th straight week for increases, which are the first since January, 2021.
WTI is $81.74, compared to $78.96 (+3.5%), one week ago, and $89.03, one year ago (-8.2%).
Refinery output slipped on a weekly basis, and is slightly above above year ago levels
For anyone interested, the U.S. has exported 829.9M barrels of crude and petroleum products, more than imported, since March 1, 2022. It jumped +11.8M barrels this past week. (Distillates account for approximately 77%.
Overall, crude stocks remain somewhat decnt, compared to this time last year, with days supply at 25.4, to last year's 25.5 days.
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